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Piaggio Group (PIA.MI), Europe’s largest scooter and motorcycle manufacturer, and one of the world leaders in the industry, today shares the findings of a new report that explores the details behind Vespa’s strong brand value – identifying the brand as a key asset in its broader portfolio. The results of the analysis show that, in 2021, the Vespa brand value totalled 906m€.
Italy's Finest
Findings in the report by the leading brand consultancy, Interbrand, point to what it describes as “a unique, globally recognized brand, thanks to its perfect combination of design, lifestyle, and Italian heritage", ultimately estimating the Vespa brand value to be 906 million Euros. In determining the Vespa brand’s financial value, Interbrand employed proven, proprietary brand assessment techniques, incorporating a comprehensive set of resources, market data, and quantitative studies conducted across Vespa’s 10x key markets.Vespa represents Italian essence at its very best: a timeless icon with a heritage that has inspired millions of people worldwide. The Vespa brand transcends functional product benefits, and is synonymous of lifestyle, delivering the dual benefit of a critical emotional connection with customers. 2021 represented a strong year for Vespa, which celebrated their 75th anniversary with the launch of the Vespa 75th Special Series. More than 19 million units have been produced and sold since 1946. A milestone reached over the past 12 months. Vespa was also successful through the expansion of its brand-ecosystem, with the launch of the new Vespa 946 Christian Dior, a collaboration with Justin Bieber, and also the global resonance generated through the Disney Pixar movie, “Luca”, in which the Vespa is integral to the film’s plot and narrative. The 906 million euros brand value represents a key milestone for this beloved Italian brand, highlighting the relevance it has among its global audience. It’s a starting point for a long-term plan that pushes Vespa towards new ambitious goals through innovation and global partnerships.
New Goals
“Vespa is much more than a mobility brand. It symbolizes art, design, technology, and fun," Michele Colaninno, Piaggio Group Board Director for Strategy, Products & Innovation, stated. "Vespa is an icon of style. Its uniqueness makes it one of the most admired and desired brands, belonging to the premium space, as well as fashion and lifestyle brands. For this reason, we must begin to benchmark it against other global brands beyond pure mobility. That's why we have asked Interbrand, the world's leading brand consultancy, to determine and analyze the financial value of the Vespa brand. This is not a finishing line, but simply a new starting point, as we continue to build the future of Vespa.”
